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RBI seeks more powers against NPAs

DNMUM416133 | 6/14/2018 | Author : Edit | WC :215 | Opinion & Viewpoint


Reserve Bank of India (RBI)’s request to the government to withdraw its nominees from bank Boards stems from growing concerns over “conflict of interests”. It assumes importance at a time when banks are reeling under huge pile-up of bad loans and increasing number of frauds. The central bank nominates a director -- either a serving or a retired executive -- to each bank generally, and more than one member when the banks are in trouble.
While former RBI governor Raghuram Rajan proposed a similar move during his tenure, a committee headed by PJ Nayak in 2014 was not in favour of such a move. The main role of any director on the Board is to ensure that the bank is efficiently and professionally managed, and that the proposal coming
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Centre banking on EU to find ways to buy Iran oil
DNMUM422658 | 9/21/2018 12:00:00 AM | Author : Iftikhar Gilani | WC :269

New Delhi: Even as Chennai Petroleum has decided to stop processing Iranian crude oil from October to keep its insurance coverage, highly placed sources in the government here said that India was exploring a way out with the European Union for an alt
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Combination drugs ban hit to be marginal
DNMUM422663 | 9/21/2018 12:00:00 AM | Author : Edit | WC :231

After the ministry of health and family prohibited manufacture, sale and distribution of 328 fixed dose combination (FDC) drugs last week, the Supreme Court on Monday lifted the ban on four drugs, including Saridon, Piriton and Dart. The order came a
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OMDC settles creditor dues, comes out of NCLT
DNMUM422664 | 9/21/2018 12:00:00 AM | Author : Sumit Moitra | WC :284

Kolkata: Orissa Minerals Development Company (OMDC), a subsidiary of state-owned Rashtriya Ispat Nigam Ltd, has been able to settle dues of creditors.
The company has now come out from National Company Law Tribunal (NCLT) even after the initiati
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Gammon offers to settle terminal debt
DNMUM422665 | 9/21/2018 12:00:00 AM | Author : Ateeq Shaikh | WC :576

Mumbai: Gammon Infrastructure Projects, the developer for Indira Container Terminal Private Ltd at the Mumbai Port Trust, plans to make a one-time settlement of around Rs 477 crore to the lenders if the project goes for re-bidding.
The rebid
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